American Educational to Buy Concord Video

Article excerpt

By Tim Ray Oklahoma City-based American Educational Computer Inc. has signed a letter of intent to acquire Concord Video Inc. of Los Angeles for an as-yet undisclosed amount of cash and stock, according to Doug Frans, chief executive officer of American Educational Computer Inc.

Completion of the acquisition is expected this month and is subject to the execution of a definitive agreement, Frans said.

When the acquisition is completed, Concord Video will become a divisional operation of American Educational Computer, which will market Concord's products under the Concord name.

According to Frans, American Educational Computer has been specializing in the publishing and marketing of educational software products for use in home and schools but has been wanting to get into marketing video products.

Concord Video's line of products includes both educational and entertainment video products. Frans said the privately-held firm had annual sales of about $1 million last year.

"They're about a 3-year-old company, and according to their reports, they're the first publisher of educational video in the U.S.," said Frans.

He said the firm has been establishing a catalog of educational and entertainment videos but has needed additional capital and contacts for marketing its products. …